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Politics : Dutch Central Bank Sale Announcement Imminent?
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To: sea_urchin who wrote (6739)7/6/1999 2:49:00 PM
From: philv  Read Replies (1) of 81247
 
C.B.s like the low, falling price of Gold.

Must be obvious to everyone, that the CBs, who hold the greatest store of gold, are content with the present price and direction. Otherwise, they would put up some resistance to its fall. They could for example bid up the price of a few tons without much cost thereby setting a benchmark floor. They could stop selling and leasing. They could "talk" it up. They could do any number of things but are not doing so. In fact, of course, the opposite is occurring, and they seem not to mind holding a depreciating asset. Doesn't make sense on the surface unless there is a greater plan or purpose.

The price will continue down until the CBs step in.

Phil
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